M&T Bank Corp Raises Holdings in Pinnacle West Capital Corporation $PNW

Key Points

• M&T Bank Corp raised its stake in Pinnacle West by 466.3%, adding 50,726 shares to own 61,604 shares worth about $5.345 million, and overall institutional ownership stands around 91.51%.
• Wall Street’s consensus rating is a Hold with a consensus price target of $103 (three Buys, thirteen Holds), while individual analyst targets range roughly from the mid-$90s to about $108.
• Pinnacle West issued FY2026 guidance of 4.55–4.75 EPS (analysts ~4.7 EPS), recently beat quarterly EPS estimates, and announced a quarterly dividend of $0.91 (annualized $3.64) for a yield of about 3.6%.

M&T Bank Corp increased its position in shares of Pinnacle West Capital Corporation (NYSE:PNW - Free Report) by 466.3% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 61,604 shares of the utilities provider's stock after buying an additional 50,726 shares during the period. M&T Bank Corp owned 0.05% of Pinnacle West Capital worth $5,345,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently added to or reduced their stakes in PNW. CYBER HORNET ETFs LLC purchased a new stake in Pinnacle West Capital during the second quarter worth $27,000. Bayforest Capital Ltd purchased a new stake in Pinnacle West Capital during the third quarter worth $29,000. Quent Capital LLC purchased a new stake in Pinnacle West Capital during the third quarter worth $30,000. MUFG Securities EMEA plc purchased a new stake in Pinnacle West Capital during the second quarter worth $32,000. Finally, CoreCap Advisors LLC boosted its holdings in Pinnacle West Capital by 103.6% during the third quarter. CoreCap Advisors LLC now owns 397 shares of the utilities provider's stock worth $36,000 after buying an additional 202 shares in the last quarter. 91.51% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

PNW has been the topic of a number of recent analyst reports. Truist Financial initiated coverage on Pinnacle West Capital in a research report on Monday, April 20th. They set a "hold" rating and a $108.00 price target on the stock. Wells Fargo & Company set a $106.00 price target on Pinnacle West Capital in a research report on Tuesday. TD Cowen increased their price target on Pinnacle West Capital from $97.00 to $100.00 and gave the stock a "hold" rating in a research report on Thursday, February 26th. Argus increased their price target on Pinnacle West Capital from $95.00 to $106.00 and gave the stock a "buy" rating in a research report on Tuesday, April 14th. Finally, Stifel Nicolaus set a $107.00 price target on Pinnacle West Capital in a research report on Thursday, February 26th. Three investment analysts have rated the stock with a Buy rating and thirteen have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $103.00.

Pinnacle West Capital Stock Performance

PNW opened at $102.29 on Friday. The company has a quick ratio of 0.36, a current ratio of 0.54 and a debt-to-equity ratio of 1.30. The company has a market cap of $12.38 billion, a price-to-earnings ratio of 20.22, a PEG ratio of 3.79 and a beta of 0.49. Pinnacle West Capital Corporation has a 52-week low of $85.32 and a 52-week high of $104.92. The firm's fifty day simple moving average is $101.10 and its two-hundred day simple moving average is $94.24.

Pinnacle West Capital (NYSE:PNW - Get Free Report) last posted its quarterly earnings data on Wednesday, February 25th. The utilities provider reported $0.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.05 by $0.08. The business had revenue of $1.13 billion for the quarter, compared to the consensus estimate of $1.17 billion. Pinnacle West Capital had a net margin of 11.55% and a return on equity of 8.82%. The company's revenue was up 3.0% compared to the same quarter last year. During the same period last year, the firm posted ($0.06) earnings per share. Pinnacle West Capital has set its FY 2026 guidance at 4.550-4.750 EPS. Equities analysts anticipate that Pinnacle West Capital Corporation will post 4.7 earnings per share for the current fiscal year.

Pinnacle West Capital Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 1st. Stockholders of record on Monday, May 4th will be given a $0.91 dividend. This represents a $3.64 annualized dividend and a dividend yield of 3.6%. The ex-dividend date is Monday, May 4th. Pinnacle West Capital's dividend payout ratio (DPR) is 71.94%.

About Pinnacle West Capital

Pinnacle West Capital Corporation is a publicly traded utility holding company headquartered in Phoenix, Arizona. Through its principal subsidiary, Arizona Public Service Company (APS), Pinnacle West generates, transmits and distributes electricity to more than one million residential, commercial and industrial customers across central and southern Arizona. The company's regulated operations focus on delivering safe, reliable power while meeting evolving environmental standards.

The company's diversified generation portfolio includes natural gas–fired plants, the nuclear-powered Palo Verde Generating Station—the largest nuclear facility in the United States by net output—plus growing investments in solar and battery storage projects.

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